Jersey R & O 7984
Building Loans (Jersey) Law, 1950.
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BUILDING LOANS (MISCELLANEOUS PROVISIONS) (AMENDMENT No. 19)
(JERSEY) REGULATIONS, 1989.
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(Promulgated on the 11th day of October, 1989.)
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STATES OF JERSEY.
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The 10th day of
October, 1989.
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THE STATES, in pursuance of Article 15 of
the Building Loans (Jersey) Law, 1950, as amended, have made
the following Regulations –
Alteration of financial limits in respect of loans
1.-(1) Paragraph (2) of Regulation 5 of the
Building Loans (Miscellaneous Provisions) (Jersey) Regulations, 1961, as
amended, (hereinafter referred to as “the principal
Regulations”) shall be deleted.
(2) In
Regulation 6 of the principal Regulations –
(a) for
paragraph (1) there shall be substituted the following paragraph –
“(1) Subject
to the provisions of these Regulations, loans may be made if the complete value
of the property on which the loan is to be secured does not exceed
£65,000 in an amount not exceeding £60,000.”;
(b) in
paragraph (3) –
(a) the
words “sub-paragraph (a) of paragraph (1) of ” shall be deleted;
(b) the
words “and not less than seven per cent in the case of a loan made under
sub-paragraph (b) of that paragraph,” shall be deleted.
Citation and commencement
2. These
Regulations may be cited as the Building Loans (Miscellaneous Provisions)
(Amendment No. 19) (Jersey) Regulations, 1989 and shall come into force
forthwith on promulgation.
R.S. GRAY
Deputy Greffier of the States.